Growth accelerated in China’s tertiary sector in June, driven by upticks in new business, employment, and price increases, according to a monthly survey by Caixin. The Caixin-Markit General Services Business Activity Index, which surveys business leaders from industries such as financial services and retail, jumped from 52.9 to 53.9 last month – comfortably beyond the […]
Category: Consumer
BATTLE OF THE BREWS
China is set to implement a new tax plan to stimulate household consumption levels and ease excessive levels of savings, the Financial Times reports. Under the new system, which is likely to affect almost all taxpayers, the income tax threshold will be raised from $6,300 to $9,000 per year, and millions more will be included […]
QUICK TAKE
China’s official manufacturing PMI figures for June fell 0.4 from 51.9 the previous month, compounding fears that a slowdown may be looming for the Chinese economy in the second half of the year. The data, published by the National Bureau of Statistics, came in just shy of the 51.6 consensus given by a Reuters poll but […]